The group include Gerry Cardinale, CEO of RedBird Capital and owner of AC Milan, and three Saudi businessmen: Ibrahim Al-Muhaidib, Mohammed Al-Khuraiji and Sharaf Al-Hariri. They are preparing to submit a proposal to PIF, which currently holds a 75% stake in Al Nassr.
Under the announced plan, each group member must commit to investing at least $100 million, bringing the total minimum capital to be raised by the five investors to $500 million, according to To Ball.
However, this $500 million figure does not represent the final price for Al Nassr. The deal’s valuation has not yet been disclosed, and negotiations with PIF are still ongoing.
Representatives from RedBird Capital and the group of investors are expected to meet with PIF executives in the next few days. This meeting could decide whether the Saudi fund agrees to relinquish control of Al Nassr.
According to SportItaliaCardinale has made preliminary, indirect contact regarding the potential acquisition of Al Nassr. However, the deal is far from completion, and the situation is considered challenging.
If successful, this would mark a significant step in Cardinale’s plan to expand his football operations. RedBird Capital is pursuing a multi-club ownership model, with Milan serving as the center of the network. Cardinale aims to enable clubs within the system to share expertise, facilities and management experience.
Al Nassr could become a new link in this plan. The Riyadh-based club currently boasts a roster of high-profile players, with Ronaldo being the most prominent figure. He joined Al Nassr in late 2022, starting a wave of star players joining the Saudi Pro League.
According to the Brazilian outlet Globo EsporteRonaldo currently holds a 5% stake in Al Nassr and could increase his ownership share if the deal goes through.
The Portuguese superstar has also invested in Spanish football. In February 2026, through CR7 Sports Investments, he acquired a 25% stake in Almeria, a club competing in Spain’s second division.
For Ronaldo, this ongoing deal is an opportunity to expand his influence in football after spending nearly four years with Al Nassr. The 41-year-old striker could reach the milestone of 1,000 career goals as early as this season, at which point he might well decide to hang up his boots.